TIER REIT, Inc. (TIER) Shares Bought by Legal & General Group Plc
Legal & General Group Plc lifted its stake in shares of TIER REIT, Inc. (NYSE:TIER) by 9.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 134,786 shares of the real estate investment trust’s stock after acquiring an additional 12,091 shares during the period. Legal & General Group Plc owned approximately 0.28% of TIER REIT worth $2,602,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. increased its stake in shares of TIER REIT by 3.5% in the second quarter. Russell Investments Group Ltd. now owns 16,207 shares of the real estate investment trust’s stock worth $300,000 after purchasing an additional 547 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in TIER REIT by 0.3% during the 2nd quarter. Great West Life Assurance Co. Can now owns 30,381 shares of the real estate investment trust’s stock worth $561,000 after acquiring an additional 76 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in TIER REIT by 41.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 893,499 shares of the real estate investment trust’s stock worth $16,512,000 after acquiring an additional 260,977 shares in the last quarter. Rhumbline Advisers lifted its position in TIER REIT by 2.8% during the 2nd quarter. Rhumbline Advisers now owns 66,721 shares of the real estate investment trust’s stock worth $1,233,000 after acquiring an additional 1,835 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in TIER REIT by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 381,643 shares of the real estate investment trust’s stock worth $7,052,000 after acquiring an additional 8,236 shares in the last quarter. 57.50% of the stock is owned by institutional investors.
In other TIER REIT news, insider William J. Reister sold 7,500 shares of TIER REIT stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $19.62, for a total transaction of $147,150.00. Following the transaction, the insider now directly owns 82,736 shares in the company, valued at $1,623,280.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.20% of the stock is owned by company insiders.
TIER has been the topic of several recent analyst reports. Cantor Fitzgerald started coverage on TIER REIT in a research report on Friday, December 22nd. They set an “overweight” rating and a $22.00 price target on the stock. Zacks Investment Research upgraded TIER REIT from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. BMO Capital Markets restated a “buy” rating and set a $20.00 target price on shares of TIER REIT in a research note on Thursday, November 9th. Finally, BidaskClub downgraded TIER REIT from a “buy” rating to a “hold” rating in a research report on Wednesday, October 25th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $21.00.
TIER REIT, Inc. (NYSE:TIER) opened at $20.45 on Wednesday. TIER REIT, Inc. has a twelve month low of $15.96 and a twelve month high of $20.72. The stock has a market capitalization of $970.26, a P/E ratio of 11.24 and a beta of 0.94.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a $0.18 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.72 annualized dividend and a dividend yield of 3.52%. TIER REIT’s dividend payout ratio is currently 39.56%.
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TIER REIT Profile
TIER REIT, Inc is a real estate investment trust. The Company’s business consists of owning, acquiring, developing, operating, investing in, and disposing of real estate assets. The Company’s business is conducted through Tier Operating Partnership LP (Tier OP). As of December 31, 2016, the Company owned interests in 29 operating office properties, one non-operating property and one development property located in 13 markets throughout the United States.
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